CME Group Inc., the biggest operator of U.S. futures exchanges, on Thursday filed an application with London financial authorities to launch a European market next year offering currency futures. CME is looking to expand internationally as regulators worldwide push more of the vast over-the-counter derivatives market onto regulated exchanges. CME has had a London-based clearinghouse since May 2011 that handles energy and other swaps, but this is the first time the...

Twin brothers who live in Russia have been indicted on federal fraud charges of attempting to make a $7.2 million profit through manipulative trades in Russian ruble and British pound currency futures using Chicago-based CME Group's Globex electronic trading platform. In 2010, they allegedly tried to make corresponding buy and sell trades within seconds of each other using two different futures commission merchants in Chicago. They tried to get profits from one,...

When K&E Tools orders supplies from Japan, owner Solvig Robertson crosses her fingers and hopes the dollar doesn`t fall against the yen before delivery date, when she has to pay. When Sima Products Corp. orders parts from Japan, President Irwin Diamond doesn`t cross his fingers. He uses futures contracts to hedge against a change in the dollar-yen exchange rate. "By no stretch of the imagination do I identify myself as a trader or as somebody who is even remotely...

CME Group Inc., the biggest operator of U.S. futures exchanges, on Thursday filed an application with London financial authorities to launch a European market next year offering currency futures. CME is looking to expand internationally as regulators worldwide push more of the vast over-the-counter derivatives market onto regulated exchanges. CME has had a London-based clearinghouse since May 2011 that handles energy and other swaps, but this is the first time the...

Federal prosecutors asked a U.S. District Court judge Thursday for more time to decide whether to retry three members of the Chicago Mercantile Exchange on numerous charges on which a jury became deadlocked last week. The request, made by Assistant U.S. Atty. Mark Pollack, represents a softening in the government's position. On July 9, Pollack and his co-prosecutors assured U.S. District Judge Ann C. Williams they would go forward with a retrial on the deadlocked counts. ...

* CME applies to set up currency futures exchange * Appoints Robert Ray as CME Europe chief * Will look to launch other products * Targets a 'brand new set of clients' -CME CEO By Luke Jeffs and David Sheppard LONDON, Aug 20 (Reuters) - CME Group Inc, the biggest U.S. futures market operator, plans to launch a European exchange in a bid to break the duopoly of NYSE Euronext and Deutsche Boerse AG and expand CME's customer base in the process. The...

The high-flying dollar didn`t help the Chicago Mercantile Exchange, as opening-day activity Monday in two new currency options fell far short of market expectations. The exchange traded an estimated 452 options on Swiss franc futures and 423 options on British pound futures. Many observers had predicted a combined total of 2,000 contracts or more. Analysts blamed the slow trade on the dollar's climb, which made traders reluctant to leave the Merc's busy currency futures...

CME Group Inc., the main U.S. futures market operator, plans to launch its first European exchange in a move that could break the duopoly of NYSE Euronext and Deutsche Boerse and offset dwindling market share at home. The CME, which runs the Chicago Mercantile Exchange, said on Monday it was applying to Britain's Financial Services Authority for approval to open a London-based market trading currency futures in mid-2013. It plans to add other types of futures at a later date, Chief...

An expected robust U.S. trade deficit is likely to have a muted effect on major currency futures at the Chicago Mercantile Exchange, although analysts say it won't be long before recent near-record deficits weigh on the U.S. economy. A BridgeNews survey of economists puts the consensus forecast for the January deficit at $26.5 billion, up from $25.5 billion in December, but down from the record trade deficit of $27.1 billion in November. The trade report will be released Tuesday morning.

HONG KONG, April 24 (Reuters) - The Hong Kong Exchanges and Clearing Ltd, the world's No.2 exchange operator, said it had appointed the ex-chief executive of subway operator MTR , Chow Chung-kong, as chairman. The exchange would continue to bank on China's economic development to help fuel the HKEx's expansion, Chow, 61, told reporters after he was elected by the board. "We continue to look for opportunities coming from China's economic development and policies," he...

Forecasts for a record U.S. trade deficit to be reported Thursday morning should have little impact on the dollar or major currency futures contracts, and barring a major surprise, the dollar won't suffer, because the U.S. economy is just too strong. A Bridge News survey put the consensus forecast for the September trade deficit at $25 billion, up from the $24.1 billion August deficit. The forecast suggests that U.S. consumers remained gung-ho on imports, specifically those from Japan,...

Timing is everything. Just look at Chicago Mercantile Exchange Inc. Directors at the home of currency futures agreed Wednesday to offer futures on the euro, yen, Swiss franc and other currencies simultaneously in its open outcry pits and electronically beginning in April. Chicago brokerage firms that cater to retail customers were thrilled: They now can offer currency products via computer without having to pay floor brokerage fees, therefore lowering the cost of doing business.

Trading futures on the tumultuous Chicago Mercantile Exchange isn`t an easy way to make a living, especially for a woman. But trader Virginia Crotty revels in the hectic pace of life in the pits and hopes her 4-year-old daughter will follow in her footsteps. "There's a raw, physical environment sort of like a jungle down there," said Crotty. "It's a challenge to see if you can survive one more day." Crotty's family has been represented on the Merc for more than 15 years, since her father began trading...

A widening U.S. trade deficit has all the earmarks of potential inflation, but its effect on currency futures traded at the Chicago Mercantile Exchange is expected to be minimal for now. Analysts expect the data, due out Wednesday, to show no easing in U.S. demand for exports. A BridgeNews survey of economists put the consensus forecast for the February goods and services deficit at $28.4 billion, up from the record $28 billion posted in January. Craig Larimer, managing...

Timing is everything. Just look at Chicago Mercantile Exchange Inc. Directors at the home of currency futures agreed Wednesday to offer futures on the euro, yen, Swiss franc and other currencies simultaneously in its open outcry pits and electronically beginning in April. Chicago brokerage firms that cater to retail customers were thrilled: They now can offer currency products via computer without having to pay floor brokerage fees, therefore lowering the cost of doing business.

An expected robust U.S. trade deficit is likely to have a muted effect on major currency futures at the Chicago Mercantile Exchange, although analysts say it won't be long before recent near-record deficits weigh on the U.S. economy. A BridgeNews survey of economists puts the consensus forecast for the January deficit at $26.5 billion, up from $25.5 billion in December, but down from the record trade deficit of $27.1 billion in November. The trade report will be released Tuesday morning.

A widening U.S. trade deficit has all the earmarks of potential inflation, but its effect on currency futures traded at the Chicago Mercantile Exchange is expected to be minimal for now. Analysts expect the data, due out Wednesday, to show no easing in U.S. demand for exports. A BridgeNews survey of economists put the consensus forecast for the February goods and services deficit at $28.4 billion, up from the record $28 billion posted in January. Craig Larimer, managing...

HONG KONG, April 24 (Reuters) - The Hong Kong Exchanges and Clearing Ltd, the world's No.2 exchange operator, said it had appointed the ex-chief executive of subway operator MTR , Chow Chung-kong, as chairman. The exchange would continue to bank on China's economic development to help fuel the HKEx's expansion, Chow, 61, told reporters after he was elected by the board. "We continue to look for opportunities coming from China's economic development and policies," he...